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Search Results 0 to 49 of about 191 (some duplicates have been removed)
will the global economy go next and what will it mean to your portfolio as the u.s. stock market sets a new five-year high. >>> i'll have any candid conversation with outspoken jpmorgan chase ceo jamie dimon. we'll talk real estate, banking, his pay cut. >> we had run terrible year. >>> and she's called the oprah of china. remarkable entrepreneur who runs a media empire and reaches more than 200 million people a month. "on the money" begins right now. >>> this is america's number one financial news program, "on the money." now, maria bartiromo. >> this is what's making news as we head into a new week "on the money." washington has a new watchdog for wall street. president obama has nominated mary jo white the head of securities and exchange commission. white is a former prosecutor with a reputation for toughness. she will replace mary schapiro and must still be confirmed by the senate. timothy geithner spent his last day as secretary on friday, stepping down after a tumultuous four years in the financial system. president obama's chief of staff jack lew has been nominated to replace geithner. >>
the economy, about where the markets would go post financial crisis. what's next for america and the global economy? ken rogoff joining me once again with some answers. ken, good to see you. >> good to see you. >> thanks so much for joining us. how would you describe the mood in davos and how would you see the economy today five years post the crisis? >> it's a strange mood in davos, where people are not euphoric. in fact, you talk to heads of multinational corporations, businesspeople around the world, they say, you know, things aren't even as good as i thought they would be this quarter, but they're calmer. there's a feeling that the world is not going to fall apart. you hear more about geopolitical risk, cyber security, d less about europe's going to blow up tomorrow. >> so, you're not seeing over enthusiasm but it's certainly better than a year ago? >> yes, it's definitely, definitely calmer. their theme here is resilient. yes, and dynamism, not so much. guess what i thought about the global economy. i actually think that growth will be moderate with not necessarily a lot of volatility
tremendous economic financial pressure on the entire global economy, including europe. >> in the same way in which the collapse of lehman implied global shocks, a dissolve in the situation of the eurozone is going to impact the united states. >> while everyone is telling the germans, "bail these guys out now," the germans are saying, "if we're gonna bail them out, we wanna fix the political crisis." >> at the end of the day, europe and the eurozone face an existential question: can we become the united states of europe? >> in a democracy, agreement is not essential, but participation is. >> never before in our history have we been so interconnected with the rest of the world. >> foreign policy is actually not foreign. >> america has faced great hardship before and each time we have risen to the challenge. >> the ultimate test is to move our society from where it is to where it has never been. >> join us as we explore today's most critical global issues. join us for great decisions. >> great decisions is produced by the foreign policy association, inspiring americans to learn more about th
is a senior fellow at our global economy, and i will sit with him and asking a few questions. and then we will turn to questions over to you, the audience. we will have simultaneous translation. my mother, may she rest in piece, is a greek language teacher. she will be rolling in a great asset to my own good piece on. so without i give you alexis tsipras. [applause] >> please join your piece to number two for the translation. [speaking in native tongue] >> translator: i want to express our opinions, our view on the cause of the crisis, and our vision for the necessary changes that have to take place in greece. so that we can change from becoming guinea pigs of the crisis to the country that will serve as the starting point for new, progressive changes that will lead the worldwide economy to safe harbors. and so it is a special honor for me to be here at brookings. this is a foundation with strong traditions and document conversation with facts. this is a foundation that and cn understand what's at stake, both in greece and in europe today. when i was young i remember those older than me t
as we near the 1500 mark on the s&p 500. and a 0.1% contraction is expected for the german economy in the fourth quarter. those figures will be out in just under 30 minutes. >>> the governors of the banks of italy -- trade in siena. and imf's christine legarde tells us that central bank stimulus is still needed. >> we have the central bank on the one hand which have done quite a lot, which have been the fireman, in a way. and you have the policymakers on the other hand particularly in the eurozone who have made some progress and need to keep the momentum. >> now, any minute now, we're expecting the results from germany's ifo institute. january business climate index survey is expected to rise to a reading of 103 from 102.4 in december. this, of course, follows an increase in expectations in the dew survey earlier this week. we've seen an increase in the pmi surveys for germany over the last couple of months. as the german economy particularly looking to climb out of its contraction in the fourth quarter, we're waiting on the ifo senior va to tell us whether sentiment broadly speaki
driven economy to consumption. so you're probably not going to see double digit growth but i think 8% is in the cards. >> is the u.s. still the best place? >> yes. >> to invest, guys? >> mandy, what is frightening here is that we all agree that some of the best opportunities are overseas. perhaps those markets need to play catch up here. i would also add that commodities have been an area left in the dust. if the fed is very successful, igniting inflation, which may be in the cards in the future commodities would be a place to hedge someone's portfolio as they get out of bonds into equities right now. very quickly we're noting today apple is, let me put it this way. exxon is close to overtaking apple as the most valuable stock in the world. significant at all? are you guys watching that at all? >> we are watching it. it is old schools coming back to modern day trading markets that are here. we've all watched apple. we've seen the run in apple. everyone is very familiar with the stock and the products. it just got to prices that were way too lofty for retail investors and when we star
great economies, france and germany. they have been friends for 50 years. >> after centuries of conflict, they culminated in two world wars. speaking at a news conference in berlin, german chancellor angela merkel and french president francois hollande talking about that. >> they promised to unveil proposals in the coming months and it is a big step forward dr. became to power pledging to reverse the plans that merkel had championed. >> it is the first time these bundestag has had a full parliament from another country here. the french president, hollande, recalled the original spirit leading to the historic relationship. >> young people are not only our future but also the reason for the policies that we are pursuing. >> young people in both of our countries have the uncomfortable good fortune that they have never had to experience in it. but peace and democracy. >> he also addressed the economic crisis in europe and chancellor merkel followed suit. she stressed it is necessary. >> what have we learned from 50 years of franco-german friendship? our greatest problems can be solved when w
a lot of positives about the u.s. economy, if washington can get its act together, but europe is still a big issue. what do you think about europe right now? have we made progress? and what's to come? >> well, i think there's some big, long term things they need to do in europe over the next 5-7 years. they've done some structural forms. they've raised their pension ages. they've done labor market reforms. nothing has happened in the united states. absolutely nothing. and i think their reasons for optimism from the shale, which, by the way, that's an area where people are excited to talk about that. and, you know, there's some optimism coming from the easy money, i suppose, still. but i think in the united states, you know, if we get to the consensus, which seems to be 3% at the end of the year, i think that would be good. >> let me ask you about the economy. relative to what ee's going on washington. we voted that the house extended to see a debt ceili ining for a months. how does this play out? >> forever. i mean, that's the short answer. forever. they don't agree. so we're seeing an
showdown from showdown? and how will the economy respond to what is or is not accomplished here in washington? my exclusive guest this morning will have something to say about all of this. house budget chairman and the republican party's 2012 vice presidential nominee paul ryan here for his first live interview since the election. chairman, welcome back to meat meet. >> great to be back with you. >> let's talk about this top priority of the budget battle. it will really mark the beginning of the president's second term. the debt ceiling has been raised, at least temporarily, but there are still big decisions to be made. you specifically said in the last few days that your priority is to make a big down payment on the debt. a debt crisis that you see in this country. >> that's right. >> what do you specifically require? what's the priority? what has the president got to do in your point of view? >> i'll just explain what the speaker said when we passed that bill. our goal is to get cuts and reforms that put us on a path to balancing the budget in a decade. we think the senate oug
economy. obviously, the u.s. economy is still a global leader. we wanted to remain that way. the political debated home has been very much about jobs and the economy. and we're here listening to some of the leaders from the eu and the other sort of entities that are here trying to understand how they're dealing with their problems. and i think coming out of all of this will be a renewed sense that in america we can compete and we will compete and we will continue to be the destination for capital and innovation. >> we have a natural gas boom and we have an oil boom and we have, thanks to low interest rates, what appears to be some sort of a housing boom. so much more can happen and, in fact, it seems like the only body, the only institution that might stand in the way of 2013 being a great year is congress. >> well, listen, there is certainly not the outcome that anybody wants. and i'm hoping that after we've been through the election and last november. we've been through a fiscal cliff debate. we are working our way through a debt ceiling debate. i think in a responsible manner. with an e
economy and its resilience and its ability to come back from the dumps? >> yeah, well, it is a little bit of all of that. we will never know how it would have worked out if there had been a different president of the united states. but you do know that the federal reserve has been quite instrumental here in pushing rates to historically low levels, flooding the economy with money, and chasing people into risk assets with the idea that that would create a sense of wealth, and therefore spending, and that is to a degree working. and the other side is that the american economy is tremendously resilient. so we are on a path to recovery. there are some head winds that are enduring. we're growing about half what we would like to grow at, but we are in a recovery, and i expect that 2013 will look a lot like 2012, 2% kind of growth which is not terrible, not great, but good enough. >> it feels like we're running on a treadmill. we're in the same exact spot and we keep running and running and getting nowhere. so jim, my question -- or peter, i should say, let's bring in peter here. my question for
so we can keep interest rates low so we can make sure we don't hurt our economy. >> i want to command -- commend you on the effort of people to just put out a budget. with all due respect on my friends on the other side, last year they were in majority, they chose not to do that. they chose thinking it would provide political cover. it didn't. i think that's what's gone "encore booknotes" the senate side. calculation that somehow this will spare some of our members from difficult votes. i commend you for developing a difficult budget and getting your colleagues to vote on it and it was a legitimate issue in the campaign. i think it's an appropriate place to have the discussion. you come, you vote, we go have a campaign. that helps the country clarify the issues. we move on. the house has fulfilled its responsibility in that regard in through the fire in the election. i think that's fair. the senate just simply has not. and it is discouraging. you know, it just takes 51 votes. that's all it takes over there. i actually heard commentators tell us, oh, no, it takes 60. it takes no such t
worldwide with the size of that economy including in japan, the united states, china. look at the trade figures worldwide. in 2010 trade grew coming out of the great recession 13.9%, and in 2011 it was 5%, and i think the final figures for last year, 2012, will be somewhere between 2.5 or 2.7. so it's no wonder that you have the problems that you do in major economies worldwide with the slowdown in trade. and i think that unfortunately, i think that we're going to see a continuation of the problems in europe at least for the most part of 2013, just take a look at the latest figures out of germany which was the strongest economy in the eurozone when it came out. and we have our own problems, as you're aware, here in the united states notwithstanding getting by the immediate crisis at the end of this year on the so-called fiscal cliff. all we managed to do was to put off some of the biggest decisions for another two or three months. so i think, you know, europe has managed along with a little help from ourselves and elsewhere has managed to cloud the world economy. in the case of japan, i
in the arab world, which have taken their toll on the country's tourism industry. the economy has come to a standstill. unemployment is high. life is tougher than ever for the poor. this teacher has a big family to support. two wives, seven children. he has been hard hit by hikes in fuel prices this winter. >> the government needs to take care of the middle class. across the world, it is the middle-class sees that support the government. as long as they are not impoverished. then he says that if the political system stays the same, nothing will change. he is part of an opposition movement which boycotted the elections. as far as he is concerned, the king can stay in office, but only as a figurehead. >> the movement is calling for a change in the regime, and if that does not happen, then the next step would be the overthrow of the regime. that means the king. >> jordan is looking for a smooth transition to more democracy without a civil war like syria or an islamist government as in egypt. what happens all depends on how willing the king is to bring about change. >> tensions are running
of europe's content. in belgium, more people turn to handouts to survive the growing economy. -- the grim economy. the russian parliament about a draft law banning homosexual propaganda. there was only one deputy that voted against it in the lower house. outside, passion spilled over to scuffles on the street. police made arrests after the gay-rights supporters were insulted by opponents. steve rosenberg reports from moscow. >> ahead of the debate inside the russian parliament, there was drama outside on the street. gay-rights activists. police detained 20 people. later, military police turned their attention to the controversial bill. pass the first hearing by a huge margin. it will prohibit the spread of homosexual propaganda in the wording which presence of children. it would mean across russia public events promoting gay rights could be broken up and the organizers find -- fined. >> we see open propaganda that harms. young people will decide on their own how to live in the future and what orientation to choose. >> this draft bill sends a bad signal to society of repression and limitat
, is the worst thing in the world. here is why, the economy is growing, housing is recovering and we're going to get a little bit of relief here. as the economy grows, we hope that-- we're going to-- >> adam. >> the problem that you have adam, as the economy is growing, and we're coming slowly out of this recession, you've got more taxes coming, payroll taxes are going up and you're going to have the higher rates, ben says is great, rich need to pay more, but basically keeps the lights on for three days and by the way, then you have obamacare taxes. >> and then here is the thing, gerri, there's never the right time. listen, it's not about punting right now. this is an extension -- remember the deal before with the debt ceiling, supposed to be the ultimate deal we'd never have to punt again. this leads to another punt, another punt and things are getting better let's not do it now. things are getting worse, let's not do it it now. and it's raining outside, let's not do it. let gerri talk for a minutes. >> according to the democrats, they're standing in the way of this. never seem to get anythi
going in, but not as much. and of course the anxiety of potentially healthy global economy is always going to give traders an excuse to try to sell what is close to some historically low levels of yield, high levels of price. >> yeah. and when you look at equities you see this huge move in the markets. are we taking a bit of a breather? jordan, how do you see it? >> i think it's been constrained. uncertain election and fiscal cliff. and all of a sudden people are starting to pay attention to the fact there are -- inflation's low. i think the market starts to run, forest run. >> not a lot of alternatives out there. right? >> even the high paying growth stocks are paying more to bonds. and the allocation hasn't happened yet. but beware. i think that could happen. >> john, what gets people to make the great exodus out of treasuries and into equities? if you're looking to the catalyst of what can take it to the next level, that would certainly be one of them. >> yeah. i think we have to see a lot higher level of inflation which we haven't seen thus far. you have corporate yields, dividen
spend more. that's not going to help the economy, and that is not going to close the gap and balance the budget. the reason we want to balance the budget is not to make the numbers add up. we think that's necessary for growth and opportunity. we think it's necessary to make sure that our kids don't get this debt that they won't be able to handle if we keep going down the path we are on. >> but there are certainly those in the white house who would take issue with what you said or might even say to use your own criticism that's a straw man argume argument. they were prepared to cut additional spending to be part of a bigger agreement that republicans weren't able to agree to. there is more room for spending cuts. it's a matter of how you do it. >> the president was insisting on more stimulus spending during the fiscal cliff negotiations. he didn't get that. they haven't put out a plan. the reason we wanted the debt limit extended was to showcase our budget. we will put a budget up that says here is our plan for economic growth and balancing the budget, entitlement reform which is nece
must do better -- >> britain's economy shrank by 2.3%, worse than expected. i could make it more difficult, more expensive for it to borrow. since 2008, britain has emerged from the recession twice now, only to slide back into economic contraction, a double-dip recession. there has never been a triple- dip since the 1950's. actually, uk firms are still hiring people. >> when you look at employment, you have to look at the part of wage growth, and wage growth is negative in real terms. if you take into account inflation. the u.k.'s competitiveness is still improving, and that is why firms who are not getting the headline numbers are still willing to take people on. that is why you see this dichotomy between the employment situation, what is happening to the economy. >> u.k. figures are not good. how does the u.k. compared to continental europe? >> in terms of growth, it is difficult to compare because they go in and out of recession at different times. the unemployment is one of the key ones. britain has done remarkably well. it is something of a mystery, and it has to do with tha
. the country's economy is stagnant. most people subsist on a minimum amount of food. authorities use these launches and nuclear tests to calm these people. north korea is a great country. they even separate them, as we saw last month. as time goals on, kim's scientists and engineers will gain more knowledge and his military will become more powerful. diplomats need to use talks to counter that. and they need to encourage chinese officials to be more active in the process. >> all right. thanks, kengo. >>> voters in israel have the ruling right wing bloc now has fewer seats in the the 120-member kanesset. centrist parties and an extreme right-wing parties made gains. vote-counting is nearly finished. the right-wing bloc led by the likud party won the highest number of seats. it will take about 30, down from the 42 it held before the vote. >> translator: thank you for giving me the chance to lead israel for a third time. we must form as large a coalition as possible. i've already started on this mission tonight. >> the centrist yeshitit or there is a future party, and a stra left labor
catch up. you'll shut down the economy and you won't get the budget down. >> when you were campaigning in virginia, a state you wanted to carry but didn't, you said, look, these sequestration cuts, these automatic spending cuts that are put in place because republicans and democrats can't agree, so you have to have this sword that comes down, you said we're not going to let those happen. those will not happen, those automatic spending cuts. well, now we have a new deadline coming up in a couple of months that says there's going to be more automatic spending cuts, the same ones that were in place before. >> that's right. >> are you going to let those happen? >> if mitt romney and i won the election, they would not have happened because we would have gone and worked with democrats and republicans in congress to put the budget on a path to balance and saved defense. i think the sequester is going to happen because that $1.2 trillion in spending cuts, we can't lose those spending cuts. and don't for get one other thing. i wrote legislation and passed it in the house twice to replace those
actually a friend of the system and the economy. take a listen to this one. >> i think jpmorgan was a -- was not just a fair weather friend. we were there in good times and bad times for everybody, including nations. for spain and italy we will tell you -- we were lending $15 billion net of collateral. net derivatives, spain and italy. yes, it's governments and multi- nationals if you want to be transparent. what would you do? what would you all do? if you were my board of directors, it's easy to say don't take the risk. move out. we've been in spain and italy, one for 60 years, wur finish over 100 -- one for over 100. we're not a fair weather friend. companies want us there. we have to manage that risk. something may go wrong. >> got to tell you guys, the feedback after that panel was actually not good. a lot of people criticizing jamie just in the hallways. obviously a lot of people happy to see him defending the bank. a lot of bankers here. the mood, nature of where we are. there was some criticism. the other big news, by the way, not happening in davos -- yeah? >> i was goin
part it's a broad-based rally, which is the best kind. as i've said, a lot of this reflects an economy that looks better than you might think. and then on the political front, president obama's recess appointment to the nlrb declared unconstitutional. and louisiana governor bobby jindal calls republicans the stupid party. how about that? and then there is an unconfirmed scandal. i say unconfirmed. did senator bob menendez sleep with underaged dominican prostitutes? this is "the kudlow report" and we begin right now. >> all right. first up, our most optimistic story tonight, stock continue their bull run, the s&p 500 and dow closing in on their all-time highs from october 2007. brian shactman joins us now with all the details. good evening, brian and good work today. >> you touched on the s&p details having its best streak in terms of winning streaks days in a row in eight years but how about the dow. we're now 105 points shy of 14,000. eight components hit new highs today. beyond the five on your screen, utx, pfizer and p & g also doing it. now, speaking of history, historically life i
a hint. sometimes it goes up before the economy is improving. we don't need monetary policy to drive stocks. >> that's why it's going up? >> the market? >> the yield. >> well, i think because the economy overall is improving and we're going to see some flows back in equities. that's why i think yields are actually starting to slowly go up. because it's starting to rejoin with gdp. >> benedict? >> i couldn't agree more. great numbers out of china. i think china is far more important than the european situation. and as yields go up, the exposure in your bond portfolio, the interest rates will have a drop on your yield. you got to be in equities. >> ben willis, b. belski. thank you. now, maria. >>> and it is 4:00 on wall street. do you know where your money is? welcome back to "the closing bell." i'm maria bartiromo on the floor of the new york stock exchange. the dow six-day winning streak in jeopardy tonight with a decline on the session. yahoo numbers are out. dow jones industrial down 12 points at 13,883. nasdaq finished positive just by a fraction. up about 4.5 points. and s&p 500
about what's happening with the domestic economy. >> yeah. rates probably close to 50% in europe. europe obviously is a collection of smaller companies. if you're historically in those countries you've had to reach out much sooner than american companies have. they're global leaders in their industry around the world. they just happen to be based here in europe and one of our key messages of the last four years has been buy european countries and make sure they have as little exposure as possible. that's generally the message. there's more competition in the market now even from peripheral countries benefiting in the risk rally. >> i wonder about philips, too, reporting tomorrow. are they seen similar to alcoa as the barometer? >> i think, you know, any big company which comes out and meaningfully beats or disappoints the market, european equities are up .25% from the lows in the summer. it could be any number of big stocks which sets the near term direction of the market. overall, it's very unlikely. the corporate sector has within its power to greatly disappoint or please the markets a
is the economy is getting better. the equity markets have improved. standard & poor's 500 was up. the s&p 500 was up 13%, 14%, up 4% year to date. >> right. >> the economy is starting to show good signs. as long as we don't have it derailed in washington. >> i was just going to ask. >> i think things could get better. >> could washington still screw this up? >> absolutely. i don't think it takes much to have another debt ceiling debate and debacle would not be helpful here. i think there's so much minon the sidelines between the retail investor and the corporate america today, has so much money to invest. get rid of some of that uncertainty and this economy will go. i'm quite bullish about that. >> can you provide guidance for this year without knowing exactly what washington is going to come up with? >> we gave a range. we don't give guidance. we give a range on a conservative side and optimistic side. we're right inside that range. had a great start to the year. we're ahead of consensus. we her record asset gathering and record guidance sales and great control. had a great start. >> had a g
.3%, down from a contraction of 0.4% in 2011. more difficult news for the spanish economy. >>> now in a long-anticipated speech on the future of britain in the european union, prime minister cameron has warned that democratic consent from a u.k. membership is "wafer thin." speaking in london, he said he's in favor of having e.u. referendum but not at the moment and urged e.u. leaders to address the challenges currently alienating the electorate. >> there's a gap between the e.u. and citizens which has grown dramatically in recent years and which represents a lack of democratic accountability and consent that is, yes, felt particularly acutely here in britain. now if we don't address these challenges, the sdarj that europe will -- danger is that europe will fail and the british people will drift toward the exit. >> i spoke to unilever's paul pohlman to get his thoughts on the strained relationship with the european union and whether a potential u.k. exit is bad for business. >> if you create a certain level of uncertainty between now and 2017 or whatever the date is of a proposed referendum i
've heard from our republican colleagues economic uncertainty is bad for the economy. guess what? it is. and yet that's exactly what you are doing. another big dose of economic uncertainty. >> reporter: republicans shifted gears on the debt ceiling after a strategy session last week. worried that they have lost the public debate, republicans were clearly trying out a new message tod. >> balancing the budget over the next ten years means we save the future for our kids and our grandkids. it also means that we strengthen programs like social security and medicare and medicaid that can't continue to exist in current form without some kind of controls. >> reporter: there is just one problem. democrats argue the "no budget no pay provision" violates the constitution's 27th amendment which says any changes congress makes in its pay can't take effect until after the next election. >> we should not say to a member, "if you think the budget before you is not good for the country, vote against it and you won't get paid. if you think it's not good for the country, you better vote for it because yo
Search Results 0 to 49 of about 191 (some duplicates have been removed)